Good Afternoon,
I am a US Citizen, married to UK Citizen (she doesn't want to be taxed in US). I live, work and earn money in the UK, I pay all appropriate UK Taxes. I have used an accountant the past 2 years to do my filing taxes because of complex situations, this year everything should be normal.
All money earned in UK, all taxes paid in UK.
Where do I need to begin to do taxes myself, do I need to purchase a certain software package?
Does that package allow for contacting expert or is this extra?
Do I need to go ahead and file for extension or is this done automatically?
Thank you in advance
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@ElfinAcorn , given that your NRA spouse does not wish to be taxed by the USA,
(a) you will have to file as MFS ( Married Filing Separate ) return on your world income --- this however may mean that you have to file by mail -- you will need to prepare the return using "dummy" tax ID for your wife ( such as 123-45-5000 ), select to file by mail, print, sign , date the return and replace the dummy SSN with "N R A"
(b) you can use itemized or standard deduction, whichever works best for you
(c) TurboTax downloaded , Windows, Home & Business is my pref. for such returns.
(d) From "personal income" tab, you choose --> No W-2; select "I will choose what I work on" and from the drop down list of income categories choose Foreign Earned Income & Exclusion. This will walk you through filling out form 2555 to exclude your UK income up to the max allowed -- this changes every year based on inflation. Any unexcluded income and foreign tax on that ( allocated ) is eligible for Foreign Tax Credit / deduction. -- this is under " Credits and Deductions " tab and from a list of items .
There are of course many ands/ifs/buts to this simplified response. We, volunteers , help users with questions and issues at no cost. It is a public board and , if need be. you can also PM one of us and we will be very happy to solve your issues. There are also , "for pay" help available, including preparation of the return.
Personally, and looking at your situation as articulated in your post, you should have no problem preparing and filing a return ( with or without our help).
You being abroad on the normal filing day , your filing day is June 15th. However, any payment is still due by April 15th.
Also note that because you have foreign bank accounts(s), you do come under FBAR and FATCA regs.
Any extension ( to file ) request is made by the tax payer directly and on line.
Is there more I can do for you ?
@ElfinAcorn , given that your NRA spouse does not wish to be taxed by the USA,
(a) you will have to file as MFS ( Married Filing Separate ) return on your world income --- this however may mean that you have to file by mail -- you will need to prepare the return using "dummy" tax ID for your wife ( such as 123-45-5000 ), select to file by mail, print, sign , date the return and replace the dummy SSN with "N R A"
(b) you can use itemized or standard deduction, whichever works best for you
(c) TurboTax downloaded , Windows, Home & Business is my pref. for such returns.
(d) From "personal income" tab, you choose --> No W-2; select "I will choose what I work on" and from the drop down list of income categories choose Foreign Earned Income & Exclusion. This will walk you through filling out form 2555 to exclude your UK income up to the max allowed -- this changes every year based on inflation. Any unexcluded income and foreign tax on that ( allocated ) is eligible for Foreign Tax Credit / deduction. -- this is under " Credits and Deductions " tab and from a list of items .
There are of course many ands/ifs/buts to this simplified response. We, volunteers , help users with questions and issues at no cost. It is a public board and , if need be. you can also PM one of us and we will be very happy to solve your issues. There are also , "for pay" help available, including preparation of the return.
Personally, and looking at your situation as articulated in your post, you should have no problem preparing and filing a return ( with or without our help).
You being abroad on the normal filing day , your filing day is June 15th. However, any payment is still due by April 15th.
Also note that because you have foreign bank accounts(s), you do come under FBAR and FATCA regs.
Any extension ( to file ) request is made by the tax payer directly and on line.
Is there more I can do for you ?
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